The analysis of innovation, industrial dynamics and the evolution of industries has witnessed major progress in several areas. The paper discusses the progress made in the industrial dynamics tradition and in the more recent stream of studies centred on the evolution of sectoral systems. It...

This paper is a first attempt at modelling the long term dynamics of market structure and innovation in the pharmaceutical industry in a history-friendly way. The model examines the relationships between the nature of the search space, demand, the patterns of competition and industry evolution...